Proverbs 6:1-3 (ESV)
1 My son, if you have put up security for your neighbor,
have given your pledge for a stranger,
2 if you are snared in the words of your mouth,
caught in the words of your mouth,
3 then do this, my son, and save yourself,
for you have come into the hand of your neighbor:
go, hasten, and plead urgently with your neighbor.
The father instructs his son about money and finances. Promising to cover another’s debts is unwise. If the other party doesn’t follow through with her payments, the one who put up security is obligated to pay all of what’s owed. By guaranteeing to cover another’s debts, the pledge creates a trap for the cosigner. The son needs to do whatever he can to get out of any situation where he has promised to pay for another’s responsibility. Maybe you haven’t cosigned for another, but you might be snared by foolish debt. Do whatever you can, even to the point of exhausting yourself, to get out of any pledge situation and free yourself from any unwise monetary agreements. Make it your priority to stop any avoidable spending until you can get out of unnecessary financial obligations. Follow the wisdom of Romans 13:8 and “owe no one anything, except to love each other.”